HOUSTON – Transwestern Investment Group (TIG) today announced it acquired 8235 Douglas, a 162,112-square-foot office building in Dallas, Texas, on behalf of one of its managed funds. TIG is the fund’s exclusive investment manager. CBRE’s Gary Carr and John Alvarado brokered the transaction.
“8235 Douglas is consistent with the fund’s focus on quality assets in infill locations with strong fundamentals that have upside potential,” said Collin Comer, managing director of acquisitions.
Immediately after closing, TIG launched a capital improvement plan to bring the property to institutional standards and capture higher market rents. Competing buildings in the Preston Center submarket, one of Dallas’ premier submarkets, are achieving rates 20 percent higher than current in-place rents.
“We are confident that the planned upgrades to the lobby, exterior, garage and corridors will be valued by the building’s quality tenants,” said Jonathan Napper, vice president of acquisitions.
Transwestern Investment Group is an independent investment management affiliate of the Transwestern family of companies. TIG currently manages $1.4 billion in institutional real estate investments on behalf of its discretionary and non-discretionary clients. TIG is a registered investment advisor.ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship driven approach ensures our priorities are our clients' investment objectives. Trust, integrity and transparency are the cornerstones of our business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit transwesterninvest.com